June 9, 2016 / 5:52 PM / a year ago

BUZZ-Performance Sports Group Ltd: Worst day in nearly 2 months

** Canadian sports equipment and apparel maker’s U.S.-listed shares fall as much as 9.7 pct, worst day in nearly two months

** Company cuts FY forecast for second time this year, now expects fiscal 2016 loss, vs prior view of a profit, due to a 10 pct drop in sales, higher bad debt

** RBC sees limited visibility to EBITDA growth, challenging U.S. retail market for sporting goods, and risk associated with higher leverage in 2017, 2018

** At least three brokerages, including RBC, cut PT, lowering median PT by $1 to $5

** Still, 4 of 7 brokerages covering stock rate it “buy” or higher and 3 “hold”

** More than 2 mln PSG shares traded, 1.4x 30-day moving avg volume

** Up to Wednesday’s close, stock had fallen 82.4 pct in past 12 months

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below